White Tire Company produces tires for mountain bikes and for racing bikes. The two products sell in a ratio of nine mountain bike tires to seven racing bike tires. Fixed costs for 2007 were \(\$ 160,000\). The following data are also available for each tire:

{Required:}
Using a computer spreadsheet program, prepare a schedule which contains the above data and which calculates the following for a basket consisting of nine racing bike tires and seven mountain bike tires:

(a) The contribution margin.

(b) The contribution margin ratio.

(c) The breakeven point in number of baskets and units of each type of tire The breakeven point in total sales dollars and sales dollars for each type of tire.

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Selling Price. Direct Material. Racing Bike Tire Mountain Bike Tire $12.00 $10.75 3.50 4.10 1.50 1.45 .35 .28 Conversion Cost Variable Selling and Admin. Expenses.....